Jubilee Holdings raises its dividend to Sh16 per share after posting a Sh4.7B profit, driven by investment gains and strong insurance growth across East Africa.
Jubilee Holdings Ltd. increased its dividend after reporting a net profit of Sh4.7 billion for the financial year ended December 31, 2024 — a 21.6% jump from the previous year — supported by improved investment returns and solid growth in its core insurance business.
The Nairobi Securities Exchange-listed insurer announced the results on April 3, 2025.
Dividend Raised to Sh16 Per Share
The board proposed a final dividend of Sh9 per share, bringing the total dividend for 2024 to Sh16, up from Sh13 in 2023. This reflects growing confidence in the insurer’s earnings quality and capital strength.
Jubilee Chairman Zul Abdul said the increase “demonstrates the Group’s strong financial position and long-term commitment to shareholder value.”
Total Income Surges to Sh12.3 Billion
The Group’s total income rose to Sh12.3 billion, up 28.7%, driven by a surge in investment income and higher returns on financial assets. Profit before tax climbed to Sh6.5 billion, compared to Sh5.1 billion in 2023.
Jubilee also recorded a comprehensive income of Sh7.5 billion, up from Sh3.6 billion, reflecting a recovery in equity markets and unrealized investment gains.
Insurance Revenue and Regional Growth
Jubilee’s insurance revenue expanded 12.8% to Sh35.4 billion, with strong performance in its health and life insurance segments. The company’s subsidiaries in Uganda, Tanzania, Burundi, and Mauritius contributed positively, reinforcing the Group’s regional leadership.
Group CEO Julius Kipngetich said, “Our diversified footprint and prudent asset management helped cushion against market volatility. We will continue focusing on innovation and operational efficiency in 2025.”
Outlook: Digital Expansion and Market Resilience
Jubilee expects continued growth in 2025, supported by increasing insurance penetration across East Africa and further investments in digital transformation. However, the company flagged inflation, currency volatility, and regulatory changes as potential challenges.
With operations in five countries and a strong capital base, Jubilee is positioning itself for long-term expansion in both general and life insurance markets.
